What is Jollychic? Jollychic Review

model

JollyChic adopts the marketing model of "e-commerce + local influencers" in the Middle East, delivering fashion information and online activities through them on social platforms to avoid certain offline inconveniences.

Basic Situation

Target customer group: Women aged 25 to 40, mainly engaged in women's clothing products.

Multi-language localization: Arabic, English, Polish, Turkish, Traditional Chinese

Multi-currency settlement: AED, BHD, QAR, SAR, KWD, USD, EUR, TRY, PLN

Service: 7*24 hours customer service, support return service.

Business categories

We operate a full range of product categories, with the main categories including: men's/women's clothing, shoes and bags, accessories, household stationery, maternal and child toys, body and skin care, 3C electronics, smart products, etc. After the supplier settles in, the corresponding BD/buyer of Zhiyu will give professional product selection suggestions to assist in product selection.

Entry requirements

1. Must be an enterprise with registered capital of no less than RMB 500,000 and established for at least 1 year;

2. Have import and export qualifications (must be successfully registered in the list of the State Administration of Foreign Exchange); suppliers who do not have the qualifications must provide them within 1 month of settlement, otherwise the payment cannot be settled normally;

3. Able to provide product quality inspection reports issued by formal institutions;

4. Applicants with an e-commerce team of more than two people and more than one year of experience in operation or supply of e-commerce platforms are preferred, such as Amazon, AliExpress, eBay, Tmall, JD.com, etc.;

5. Have a stable supply chain and the ability to quickly deliver orders within 36 hours, with no less than 20-50 products to cooperate with (depending on the requirements of different categories), and sufficient inventory (photos of warehouses and office spaces are required);

6. Able to cooperate with the platform to complete independent packaging of products, barcode printing and pasting, and electronic waybill operation and delivery;

7. After opening an account, upload at least 10 valid products within half a month (excluding products rejected by the review);

8. After the account is opened, you must cooperate with the platform to complete the contract signing as soon as possible. If it is not completed within two months, the account will be frozen.

Settlement information

1. Business license (individual businesses are not accepted);

2. Bank account opening certificate (either basic account or general account);

3. Documents filed with the State Administration of Foreign Exchange: "Online Business Opening for Foreign Exchange Administration for Goods Trade" (if not yet processed, it can be provided within one month after settlement, otherwise payment cannot be settled normally);

4. If you have your own brand, you need to provide brand registration information;

5. If there is a well-known brand, a direct authorization letter from the brand (brand agent, distributor) is required;

6. Product quality inspection report issued by a formal organization (see the table below for specific requirements):

7. Screenshots of store backends during operation on other platforms;

8. Photos of the warehouse (the quality control department will contact a third-party agency for on-site factory inspection later);

9. Jollychic new supplier information form & quotation (ask the corresponding investment promotion personnel), the quotation should contain at least 20-50 styles, and the styles included will be randomly checked during the factory inspection;

10. Third-party factory inspection fee voucher: After the quotation is reviewed and approved, the merchant needs to pay a factory inspection fee of RMB 700 (required to be paid from public to public). The platform will arrange a third-party agency to conduct an on-site factory inspection (warehouse), and cooperation can only begin after passing.

Settlement process

Submit application: Apply online and submit information;

Entry audit: platform audit, on-site factory inspection;

Officially settled in: open the backend and sign the contract;

On-site training: attend training and pass the test;

Upload products: review new products and put them on the shelves;

Order processing: backend push and timely delivery.

cost

JollyChic adopts a cross-border retail self-operated model, and suppliers are all settled in the platform as suppliers. The two parties cooperate without any settlement fees, no sales commissions, and no operating and promotion expenses. Zhiyu has the right to sell and promote the products.

Financing

On May 27, 2015, Zhiyu has received nearly 10 million US dollars in Series A investment from two listed companies, Fuanna and Furun.

In May 2018, Zhiyu completed a C round of financing worth hundreds of millions of dollars, with a post-investment valuation of over US$1 billion. This round of financing was led by Sequoia Capital Global Growth Fund, followed by Legend Capital, Orchid Asia, Ping An Ventures, and CDH Investments.

In 2019, the Middle East e-commerce platform Jollychic completed a $65 million Series C+ round of financing, with the investor being the UAE technology giant G42 Group. This financing was the first time that a local strategic investor in the Middle East invested in a Chinese e-commerce platform focusing on the Middle East market.

develop

In 2015, Jollychic had more than 200 employees, including more than 70 IT R&D personnel.

In 2016, Jollychic had 500 employees, including more than 90 buyers and nearly 100 foreign customers. It had about 1,000 suppliers and launched 500 new styles every day. The number of APP users reached 10 million, and 95% of sales came from the Middle East.

In August 2015, JollyChic officially entered the Polish market.

In 2017, Zhiyu completed the resource integration of the Middle East e-commerce MarkaVIP.

References

• 1. How to open a store on Jollychic? Jollychic merchant store opening conditions, process and fees: Hugo.com [reference date 2018-08-14T16:00:00.000Z]
• 2. Zhiyu, the largest e-commerce platform in the Middle East, which has made a fortune quietly, has received hundreds of millions of dollars in financing from Sequoia and other investors: Sohu [cited on 2018-06-03T16:00:00.000Z]
• 3. Middle East cross-border e-commerce platform Jollychic completes $65 million C+ round of financing: 36kr [cited date 2019-08-03T16:00:00.000Z]